Slides
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20 October 2026 AGM 2026 L1 Group Limited (ASX:L1G)
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1 Formalities L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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2 Chair’s Address Guy Strapp L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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FY26 highlights Notes: 1. Price of L1G on 16 October 2026 compared to PTM.ASX on 30 April 2025, the undisturbed share price immediately before the merger discussions were announced by PTM. 2. Includes PMC pre-existing net assets Significant value created for shareholders – 98% share price increase1 Platinum integration on track and ahead of expectations Upgraded synergies twice during FY26 – current target is $43m Raised c.$2.4bn through L1-managed LICs2 Announced new fund strategies: PXC Advisors, East Rocky Asset Management and Australian Small caps strategy L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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L1G | FY26 key metrics Notes: 1. Underlying EBITDA refers to FY26 Earnings before interest, tax, depreciation, amortisation, unrealised investment gains and one-off transaction and integration costs. EBITDA is attributable to the ordinary shareholders for both L1 Capital and Platinum Asset Management over the full12 month period to June 2026, prepared on a pro-forma basis. 2. Underlying NPAT refers to FY26 Net ProfitAfter Tax but before unrealised investment gains andone-off transaction and integration costs. Underlying NPAT is attributable to the ordinary shareholders of both L1 Capital and Platinum Asset Management over the full 12 month period to June 2026, prepared on a pro-forma basis $385.9m Total Revenue $287.4m Underlying EBITDA1 1.03% Avg. Management Fee 74.5% EBITDA Margin $188.8m Underlying NPAT (UNPAT)2 ASX:L1G Ticker $19.3bn Funds Under Management (FUM at Sept 26) 5 Locations globally 3.0 cents Fully Franked Dividend (2.0 cents 2H26) L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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L1G Board Guy Strapp Chair Rachel Grimes AM Non-Executive Director Neil Chatfield Non-Executive Director Julian Russell CEO and Managing Director Jane Stewart Executive Director L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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3 CEO and Managing Director’s Address Julian Russell L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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L1G strategy | Core growth pathways Growth of existing funds through performance and flows Example L1 Long Short Strategies Attracting talented new teams to launch new products Examples PXC Advisors East Rocky Asset Management Australian Small caps strategy Extension strategies from existing investment teams Examples L1 Global Long Short L1 Gold Acquisition of existing investment managers Example Platinum Asset Management L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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12 months on from the Platinum merger: $43m synergy target on track, distribution expanded, new strategies launched, and up to $2.4bn raised across LGF and GLS1 Notes: 1. Includes PMC pre-existing net assets L1G building momentum through strategic progress 2025 Oct Nov Dec 2026 Jan Feb Mar Apr May Jun Jul Aug Merger completion L1G capital raising of c.$311m Platinum FUM stabilisation Integration commences Synergies – Initial target upgraded to $35m from $30 -35m $31.7m realised of $35m target Growth initiatives PMC proxy campaign and conversion to GLS GLSF offshore feeder launch ASX:GLS $477m rights issue, creating a LIC with initial FUM of c.$950m 1 Platinum Integration $43m cost synergies target updated PXC Advisors JV announced Aust Small caps strategy announcedNorth America EMEA Offshore distribution establishment L1 Gold Fund Limited (ASX:LGF) $950m IPO Head of Partnerships (North America) Sep Oct Appoints East Rocky Asset Management GLS raising L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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Aspiring to be the best listed investment manager in the Australian market Key earnings growth levers Fund flows & outperformance FY26 delivered outstanding performance across the Group Product/strategy expansion Aust Small caps strategy from November 2026, another seeded for 2H27 Distribution expansion New teams in North America and EMEA, with flows building over time Platinum integration $31.7m of cost savings delivered, target raised to $43m Appointment of new investment teams PXC Advisors and East Rocky Asset Management M&A optionality Highly selective use of the balance sheet for accretive deals L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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4 Business of the Meeting L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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Item A – Financial and Statutory Reports (not voted on) Ordinary business To receive and consider the Company’s Financial Report, Directors’ Report, Sustainability Report and Auditor’s Reports for the financial year ended 30 June 2026. L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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Resolution 1 – Adoption of the Remuneration Report Ordinary business To consider and, if thought appropriate, pass the following ordinary resolution: “That the Remuneration Report of the Company for the financial year ended 30 June 2026 be adopted.” This resolution is advisory only and does not bind the Directors or the Company. L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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Resolution 1 – Adoption of the Remuneration Report Proxy Positions Ordinary business Number Percentage2 For 440,860,908 82.90 Against 84,673,269 15.92 Open – Nominated Chair 1 5,733,364 1.08 – Other Nomination 545,453 0.10 Abstain 207,551 - Excluded 1,574,152,246 - L1 Group Limited (ASX:L1G) | Annual General Meeting 2026 1. To be voted in favour of the resolution. 2. Of proxies cast. The Chair intends voting the open and undirected proxies in favour of the resolution. In respect of this item of business, the following proxies have been received:
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Resolution 2 – Re-election of Ms Rachel Grimes AM as Non-Executive Director Ordinary business To consider and, if thought appropriate, pass the following ordinary resolution: “That Rachel Grimes AM, being eligible, be re-elected as a Non-Executive Director of the Company.” L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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Resolution 2 – Re-election of Ms Rachel Grimes AM as Non-Executive Director Proxy Positions Ordinary business Number Percentage2 For 2,096,114,521 99.54 Against 3,627,576 0.17 Open – Nominated Chair 1 5,734,752 0.27 – Other Nomination 525,728 0.02 Abstain 170,214 - L1 Group Limited (ASX:L1G) | Annual General Meeting 2026 1. To be voted in favour of the resolution. 2. Of proxies cast. The Chair intends voting the open and undirected proxies in favour of the resolution. In respect of this item of business, the following proxies have been received:
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Resolution 3 – Approval of Securities issued under the Equity Participation Plan Ordinary business To consider and, if thought appropriate, pass the following ordinary resolution: “That, for the purposes of ASX Listing Rule 7.2, Exception 13(b), and for all other purposes, approval be given for the issue of Securities under the rules of the employee incentive scheme of the Company known as the “L1 Group Limited Equity Participation Plan Rules” on the terms set out in the Explanatory Notes accompanying this Notice, during the three years following the date of the Meeting.” L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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Resolution 3 – Approval of Securities issued under the Equity Participation Plan Proxy Positions Ordinary business Number Percentage2 For 2,022,646,485 96.04 Against 77,118,781 3.66 Open – Nominated Chair 1 5,725,364 0.27 – Other Nomination 545,453 0.03 Abstain 136,708 - L1 Group Limited (ASX:L1G) | Annual General Meeting 2026 1. To be voted in favour of the resolution. 2. Of proxies cast. The Chair intends voting the open and undirected proxies in favour of the resolution. In respect of this item of business, the following proxies have been received:
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Resolution 4 – Grant of Performance Rights to Mr Julian Russell Ordinary business To consider and, if thought appropriate, pass the following ordinary resolution: “That, for the purposes of ASX Listing Rule 10.14 and for all other purposes, approval be given to grant 2,109,362 Performance Rights under the Company’s Equity Participation Plan to the Managing Director and CEO of the Company, Mr Julian Russell (or his nominee), pursuant to the terms of the Equity Participation Plan described in the Explanatory Notes accompanying this Notice.” L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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Resolution 4 – Grant of Performance Rights to Mr Julian Russell Proxy Positions Ordinary business Number Percentage2 For 2,091,990,088 99.33 Against 7,273,299 0.35 Open – Nominated Chair 1 6,217,489 0.30 – Other Nomination 525,453 0.02 Abstain 166,462 - L1 Group Limited (ASX:L1G) | Annual General Meeting 2026 1. To be voted in favour of the resolution. 2. Of proxies cast. The Chair intends voting the open and undirected proxies in favour of the resolution. In respect of this item of business, the following proxies have been received:
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Resolution 5 – Grant of Performance Rights to Ms Jane Stewart Ordinary business To consider and, if thought appropriate, pass the following ordinary resolution: “That, for the purpose of ASX Listing Rule 10.14 and for all other purposes, approval be given to grant 81,129 Performance Rights under the Company’s Equity Participation Plan to Executive Director Ms Jane Stewart (or her nominee), pursuant to the terms of the Equity Participation Plan described in the Explanatory Notes accompanying this Notice.” L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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Resolution 5 – Grant of Performance Rights to Ms Jane Stewart Proxy Positions Ordinary business Number Percentage2 For 2,092,482,010 99.36 Against 7,298,702 0.35 Open – Nominated Chair1 5,700,164 0.27 – Other Nomination 525,453 0.02 Abstain 166,462 - L1 Group Limited (ASX:L1G) | Annual General Meeting 2026 1. To be voted in favour of the resolution. 2. Of proxies cast. The Chair intends voting the open and undirected proxies in favour of the resolution. In respect of this item of business, the following proxies have been received:
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Resolution 6 – Approval of Termination Benefits Ordinary business To consider and, if thought appropriate, pass the following ordinary resolution: “That, for the purposes of Part 2D.2 of the Corporations Act and for all other purposes, approval be given for the giving of benefits by the Company or a related body corporate in connection with the Equity Participation Plan to any current or future person who is (or becomes) an officer of, or holds a managerial or executive office in, the Company or a related body corporate, in connection with that person ceasing to be an officer or hold that managerial or executive office or position, on the terms described in the Explanatory Notes accompanying this Notice.” L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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Resolution 6 – Approval of Termination Benefits Proxy Positions Ordinary business Number Percentage2 For 1,991,363,712 94.56 Against 108,167,476 5.14 Open – Nominated Chair1 5,720,264 0.27 – Other Nomination 545,728 0.03 Abstain 375,611 - L1 Group Limited (ASX:L1G) | Annual General Meeting 2026 1. To be voted in favour of the resolution. 2. Of proxies cast. The Chair intends voting the open and undirected proxies in favour of the resolution. In respect of this item of business, the following proxies have been received:
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Resolution 7 – Adoption of New Constitution Ordinary business To consider and, if thought appropriate, pass the following special resolution: “That, in accordance with sections 136(2) and 648G of the Corporations Act and for all other purposes, the constitution in the form tabled at this Meeting and signed by the Chair for the purposes of identification is adopted as the Company’s Constitution in substitution for and to the exclusion of the Company’s current constitution, with effect from the date this resolution is passed.” L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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Resolution 7 – Adoption of New Constitution Proxy Positions Ordinary business Number Percentage2 For 1,926,101,154 91.47 Against 173,206,183 8.23 Open – Nominated Chair1 5,725,364 0.27 – Other Nomination 545,728 0.03 Abstain 594,362 - L1 Group Limited (ASX:L1G) | Annual General Meeting 2026 1. To be voted in favour of the resolution. 2. Of proxies cast. The Chair intends voting the open and undirected proxies in favour of the resolution. In respect of this item of business, the following proxies have been received:
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5 Voting L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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Thank you for your attendance
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Important information This communication has been prepared by L1 Group Limited (“L1 Group”) (ABN 13 050 064 287 ASX:L1G) to provide you with genera l information only. While the information in this presentation has been prepared in good faith and with reasonable care, no representation or war ranty, express or implied, is made as to the accuracy, adequacy or reliability of any statements, estimates, opinions or other information contained in the presentation, and to the extent perm itted by law, no liability is accepted by L1 Group nor any of its related parties, their employees or directors, for any loss or damage as a result of any reliance on this information. This presentation may c ontain forward looking statements. These forward -looking statements have been made based upon L1 Group’s expectations and beliefs concerning future developments and are subject to risks and uncertai nty which are, in many instances, beyond L1 Group’s control. No assurance is given that future developments will be in accordance with L1 Group’s expectations. Actual outcomes could differ materially from those expected by L1 Group. The market commentary reflects L1 Group’s views and beliefs at the time of preparation, which are subject to change without notice. No representati ons or warranties are made by L1 Group as to their accuracy or reliability. Information which relates to any financial product referenced in this material is general information only and is not intende d to be financial product advice. It has not been prepared taking into account any particular investor’s investment objectives, financial situation or needs, and should not be used as the basis for making investment, financial or other decisions. Investors should read the entire product disclosure statement, prospectus or offer document of the relevant financial product and consider their investment ob jectives, financial situation and needs, prior to making any investment decision, and should obtain professional advice. Numerical figures have been subject to rounding. L1 Group does not guarantee the performance of any fund, the repayment of capital or the payment of income. The investment returns shown are historical and no warranty can be given for future performance. L1 Group Limited L1 Group Limited (ASX:L1G) | Annual General Meeting 2026
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For more information, visit L1Group.com.au